A Signal embarrassment

Southwark pays out instead of enforcing planning conditions

Most people are aware that private developments are supposed to provide a certain amount of affordable housing, called S106 contributions. The Signal Building at the Elephant and Castle is one such development - 22 storeys, 38 residential units, with an S106 contribution of 11 affordable homes, to be provided ‘at no cost to the council’ 1 when planning permission was granted in 2011.

  1. See paragraph 1.2.1 pg 48 

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One Blackfriars

An oasis of luxury amid the housing crisis

Anyone troubled by the housing crisis can take comfort from One Blackfriars looming over the Thames like a wonky ice lolly on the former site of the Blackfriars Rotunda. Berkeley Group’s 50 storey glass tower will have 274 luxury homes, a 110-space multi-level car parking basement, a 152 room hotel, a gym, cinema, wine cellar, massage parlour, swimming pool and much else.

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Lendlease banks £113m profit from 'unviable' joint venture with Southwark

Council's share of the bumper profit from its regeneration partner is a pitiful £12m

Figures published in Lendlease’s 2016 half year financial statement and 2015 portfolio report show that it made a handsome £113m profit from its One the Elephant joint venture development with the Council. Southwark received just a £12.2m share of this. The Council had previously received a £6.6m sum for its land interest and £3.5m towards the £20m cost of the new leisure centre, both included as scheme costs. The £3.5m was in lieu of the scheme providing any affordable housing, which Lendlease claimed would render it unviable.

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